Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1887-05-19
DAKOTA BANKING.
How tile People OF That Territory Stand
by Their Friends.


by Their Friends.
I ran across New York nsan the
other day who is largely interested in
the banking business of Dakota. The
conversation drifted into u discussion
of the character of the people out
there. ''They may lie rough in their
Manners said he, land uncouth in
their ways, but they stand by a mae
when he is in trouble and they never
forget a friend. / had an opportuni-'
ty," he went on, ''to test this trait not
many years ago. The bank of the
town where 1 was staying found it :
self greatly embarrassed one fine day
by the failure of its principal CORES
pondent in the Territory. This fact
became known late in the afternoon
of the day that the news of the failure
reached the town. A run on the bank
the following morning was inevitable
To meet it there was but six thousand
dollars IN the vaults. The remainder
of the assets could not Immediately be
turned into ready cash The president
of the bank was at his wits ends. He
didn't know what to do. Morning
came and he decided to close the bank.
He was about TO give the necessary or
ders when in walked committee of
the leading merchants of the place.
They asked for an explanation of the
situation. 1t was given to them and
likewise an opportunity to look Mt the
books. A short examination suf1iced
to show that the bank was only tenn
porarily embarrassed. They said to
the president: You open the doors at
ten o'clock as usual and pay the de-
positors; we'll see you through this
thing But how are you going to do
it?' said the president; i have but six
thousand dollars here and there are att
least thirty thousand dollars in deposits g.
to be met Half of that sum. is clam
oring on the sidewalk now Never
mind, you open the bank and go
ahead said the committee, and we
will see you through
''Well, the bank was opened and in
rushed the depositors and out went the
money. The pile of greenbacks on the
cashiers desk grew smaller and
smaller and the crowd of 2epositors
continued TO increase with every
minute. Still the paying at the
teller's window went on. On the side
walk the people who had drawn their
money were met by some of he mer-
chants who had promised to see the
bank through. What are you going to
do with your money! they would ask.
Il don't know came the answer. Sup
pose you leave it with us; you know ouT"
house and know that We are response
bic. We will give you a note and SO
much interest To the farmers Cfor
the majority of depOsitors were &.
farmeI's) the money in their pockets
where it drew no interest was of little
use; they preferred, of course, the
notes and were without difficulty per-
suaded to part with their money. AS
soon as they had received the money
the merchants would deposit it in the
bank. The same money was paid over
the counter three times or oftener in
the course of the day, and when the.
bank closed ut three o'clock in the
afternoon it had in its vaults as much
money as it had started with in the
morning. and with $4,000 it had paid
over $50, 900 of deposits. The prompt
ness with which it met the demands of
the depositOrs staid the panic and the.
next morning there was not the slight q.
est indication of run. This is an alb
solutcly true story said my inform
ant in conclusion. ''for was myself
the president of that bank. Now can
you match that by any thing i'll the
East?' Washington Letter.